The firm has developed a tokenized betting game for users to speculate whether the number of confirmed cases across the globe has increased or decreased in a particular week.
On April 3, Waves rolled out the ‘charity campaign’ supposedly to aid “organizations and funds in need of financial aid in fighting the global COVID-19 pandemic.”
Specifically, clients of Waves.Exchange can now acquire ‘COVID-DWN’ or ‘COVID-UP’ tokens to gamble on whether the aggregate confirmed COVID-19 cases across the world rises or falls in a seven day time span. Tokens are bought in exchange for Neutrino Dollar (USDN), a stablecoin.
All USDN utilized to buy the tokens are then held in escrow before eventually being disbursed to holders of the triumphant token at the end of every week.
The charitable element to the betting game is that “winners will be granted valuable prizes or can share their winnings for charity purposes,” and “all additional proceeds of the campaign will be donated to non-profit organizations.”
Info on the positive coronavirus disease cases will be obtained from the Data Repository by Johns Hopkins CSSE — which offers data on real-time basis through its link with the World Health Organization (WHO).
While the cryptocurrency society has promptly acted in the development of a series of engaging and efficient measures as retaliation to the coronavirus pandemic, some perverts have resorted to exploit COVID-19 for personal benefits.
On March 23, HashCash Consultants revealed its forthcoming ‘Corona Fund Index Cryptocurrency’ — a token, which is not pegged to any asset, supports reflecting the achievement of an inverse S&P 500 exchange-traded fund (ETF).
During February, coders from 4Chan unveiled ‘CoronaCoin’, an ERC-20 token with a supply equivalent to world population, and a burn every 48 hours to match the number of people who lost their lives due to coronavirus disease.